New Plant Goes Online and Boosts Capital Supply 40%

E-Power S.A., the first private-sector power generation project in Haiti delivered on the basis of international tendering, started operations in Port-au-Prince Jan. 13, a year and a day after the devastating 2010 earthquake. The $56.7-million, 30-Mw, heavy fuel-oil-fired power plant will boost capacity in Port-au-Prince by 40%. IFC, a member of the World Bank Group that focuses on the private sector in developing countries, provided long-term $17-million financing, and syndicated an additional $12 million from the Netherlands Development Finance Company (FMO). The utility is 60%-owned by local investors with Korea East-West Power Co. Ltd, a Korean electricity utility, also holding a 30% stake. The project was delivered by Hyundai Heavy Industries, Co. Ltd and its spin-off, DECCO Ltd. of Korea. Prior to the earthquake, only 25% of Haiti’s population had access to electricity, with best-served areas receiving a maximum of eight hours per day. The power from the new plant will be sold to the state-owned utility under a 15-year power purchase agreement.

Post a comment to this article

How can you make AI work for your team? Unlock new levels of collaboration by leveraging AI to accelerate contract negotiations, mitigate risks, and streamline project preparation and execution. In this webinar, hear first-hand how industry pros improved negotiation outcomes, resolved sticking points faster, and aligned their teams for project success.

Sponsored by:

Join us for Groundbreaking Women in Construction (GWIC), returning to New York City on February 24-25, 2025! This conference unites women across the construction industry—from project managers to executives—to connect, learn, and advance in a supportive environment. Dive into educational sessions covering innovations in tech, career development, and DEI. Enjoy unique networking events and collaborative discussions designed to empower and inspire.